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4-Traders Homepage  >  Equities  >  Euronext Amsterdam  >  Sif Group    SIFG   NL0011660485

SIF GROUP (SIFG)
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Sif : Dutch wind farm supplier SIF warns of order-book weakness

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11/10/2017 | 09:45am CET

SIF Holding NV, the Dutch builder of huge steel foundations for offshore wind turbines, on Friday reported a 38 percent fall in third-quarter operating profit because of postponed projects.

The company also lowered its full-year production target by 5 percent to 220,000 metric tonnes, saying work has been shifted into 2018 and that it now expects an 8 percent decline in full-year core profit.

"We anticipate a slower 2018, with 122 kilotons (122,000 metric tonnes) currently in the order book," SIF said in a statement.

"Accordingly, we are reviewing short-term costs aggressively, while mindful of the need to preserve critical skills capacity for what is fundamentally a growth market through the next decade."

Shares in SIF slid by 12 percent to 16.15 euros by 0825 GMT.

The Dutch government, which is running behind on its international climate obligations, has announced plans for wind farms in the Dutch North Sea in the coming years.

SIF's third-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) fell to 11.2 million euros (9.91 million pounds) on revenue that fell 9 percent to 30.3 million euros.

(Reporting by Toby Sterling; Editing by David Goodman)

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Financials (€)
Sales 2017 330 M
EBIT 2017 46,0 M
Net income 2017 31,8 M
Debt 2017 39,0 M
Yield 2017 1,92%
P/E ratio 2017 14,14
P/E ratio 2018 29,43
EV / Sales 2017 1,50x
EV / Sales 2018 2,07x
Capitalization 457 M
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 18,4 €
Spread / Average Target 2,7%
EPS Revisions
Managers
NameTitle
Jan Bruggenthijs Chief Executive Officer
André Goedée Chairman-Supervisory Board
Luc De Proost Chief Operating Officer
Boudewijn Nijdam Chief Financial Officer
Peter J. Gerretse Member-Supervisory Board
Sector and Competitors
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SIEMENS GAMESA RENEWABLE ENERGY10.98%10 600
XINJIANG GOLDWIND SCIENCE & TECH CO LTD--.--%9 081
TITAN WIND ENERGY (SUZHOU) CO LTD--.--%1 980
SUZLON ENERGY-0.97%1 268